chartwatchers
Short

GOLD - Jesse Livermore Memorial Short

FX:XAUUSD   Gold / U.S. Dollar
9562 155 114
I would like to offer this short trade to Jesse Livermore the best who ever lived
short trader of the Wall Street for his 139. upcoming birthday.
If I'm right we are going to print in gold             this June a low which we will never going to see again in our life.
Once this decline is finished gold             will skyrocket above 2000 in the following years.

Everything is ready technically , timewise and currency wise for this short.
- We broke the the daily trendline yesterday. All the retail technical traders are long.
- We tested back the double top's neckline
- Everybody is on the board for the 2nd phase of the bull market. Sentiment is hyperbullish.
- I wish I could see yesterday's COT :(
- We are at day 8 - if it's the 5th daily cycle of this IC             this is the time to turn down.
- RSI is leaving overbought territory. It's usually a sign of a cycle top
- The dollar is breaking out of the wedge , the EurUsd             is printing a daily key reversal...
- We have a FOMC meeting next week with a possible rate hike (or if there is no rate hike we will get a hawkish speech which will strengthen the dollar.)
- We have a brexit poll on the 23th of June ( Euro             is getting weaker )
- Last days' volume was low. If I'm right we will see big volume in the upcoming day's panic
- ... and we might have Jesse at our back.

I don't need anything else.

I'm looking forward to see a tag or a breakdown of the 200 DMA.
Levels to watch:
1234$
1205$
1190$

It's time for the market to throw a curveball to the longs who think gold             will skyrocket and they can make an easy money on their longs.
Yes it will but first we have to salute to the Great Bear of Wall Street with this short trade.
Comment: We are still in a wedge. And we still have the divergences.
And the dollar in a rally mode. Stocks are in a rally mode.
Volume is low again. I think algos and retail is buying. The wedge still has to breakdown... In the afternoon we had a false breakdown.
snapshot
Comment: In the night price has broken down the lower trendline of the wedge on the hourly chart.
MACD crossed down again and printed the 3rd diverging top.
snapshot
Comment: 4hrs MACD also gave in the crossover sign
snapshot
Comment: Check out the 4hrs chart history how many times did the MACD 2nd crossover give a false signal.
We will have some kind of correction.
snapshot

snapshot

rising wedge is generally bearish once break down
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Wrong...
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why teacher why ?
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higer hights lower lows dont like, if we have a correction wont be anywere near 40s maybe 50s
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Tampax Tampax
keep saying fake breakout instead trying to find agood hedging strategy, jpy is free fall good dollar rize gold also, good luck, see you guys at +1290s
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Arpi, I have faith in you. Let us wait and see :)
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miners are weakening however, better play is to DUST since NUGT stretched way above 200 day EMA
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Great job Arpi, really appreciate the time you put into this and the poise to keep focus with your intentions.
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